Telecom/Mobile News Headlines | Tech News – Yahoo! India News: SKS to raise $97 mln via share sale, plans unit for non-MF biz

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SKS to raise $97 mln via share sale, plans unit for non-MF biz Dec 7th 2011, 08:15 REUTERS - India's largest micro lender SKS Microfinance plans to raise a maximum of 5 billion rupees through a share sale to institutional investors by March 2012, its chief financial officer said on Wednesday. The company's board had approved an enabling resolution to raise up to 9 billion rupees last month. "The idea is not to raise the entire 900 crore (9 billion rupees). We really don't need it, because this is not for capital adequacy purpose," Dilli Raj, told CNBC-TV18. "This is to be looked at as growth... and I would even say opportunity capital (being) raised. ...

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